Midterm results of the Twinning project reviewed in a press breakfast at the National Bank of Belarus
The midterm results of the EU Twinning Project "Strengthening the National Bank of the Republic of Belarus" were reviewed on 27 November 2018 at a press breakfast hosted by the National Bank.
The project leader from the National Bank of the Republic of Belarus, Deputy Chairman of the NBRB Board, Sergei Kalechits and the Member State project leader, director of the Centre for Central Bank Dialogue Deutsche Bundesbank Martin Dinkelborg have shared with the media detailed information about the project’s progress.
Twinning projects bring together public sector expertise from EU Member States and beneficiary countries with the aim of achieving concrete mandatory results through peer to peer activities. Similar projects have been implemented in other countries of Eastern Europe. "In Belarus, the National bank has been the first and the only state body so far to start cooperation with the European Union under the Twinning programme," said Sergei Kalechits.
To date, some 100 professionals from the EU have been involved in the project as its short-term experts. The main formats of the dialogue and exchange within the project include expert missions, training activities, and expert forums. Since the start of the project, there have been over 30 expert missions, two study visits to the central banks of Germany and Poland, and two expert forums. One important long-term result of the Twinning project is that it has helped expand professional contacts among the relevant staff, bring more people aboard and make these contacts more lasting. In the long run, this makes all of the parties better able to enhance their working practices and respond more effectively to the emerging risks and challenges.
In the course of our twinning experience, our Belarusian counterparts have been very open and willing to explore, evaluate, and apply creatively the EU experiences and practices for the benefits of various sectors of the Belarusian society and the Belarusian public in general. Considering the excellent organisation, high degree of professionalism of the Belarusian specialists and their deep interest in the implementation of this project, I am confident that the joint project will be successful," said Martin Dinkelborg.
The Twinning project "Strengthening the National bank of the Republic of Belarus" has been in progress since January 2018. It is being implemented as a part of the EU neighbourhood instrument by a consortium of EU banks comprised of the German Federal Bank, the National Bank of Poland and the Bank of Lithuania.
The project envisages a range of activities that seek to strengthen the payment system, improve financial stability, and enhance banking supervision financial risk management, financial consumer protection and communication policy.